Owner of British Gas acquires terminal for £1.5 billion

• Centrica has acquired a terminal for £1.5 billion sterling
• The terminal will provide energy security for Great Britain
• The deal is expected to be completed in the last month of 2025

The owner of British Gas, the company Centrica, has signed a deal worth £1.5 billion sterling for the acquisition of the largest terminal for imported gas in Europe, located on the Isle of Grain in Kent. This terminal has the capacity to import 15 million tonnes of liquefied natural gas per year.

The agreement involves a partnership with a private investment company from the USA. The terminal, which stores gas from around the world, is a key element of the European energy market, supplying gas to companies such as Centrica, Shell, and Qatar Energy.

Centrica's Chief Executive, Chris O'Shea, stated that this strategic asset will support energy security in Great Britain over the next decade, especially as the country transitions to a zero-carbon economy.

This agreement follows Centrica's announcement of an investment of £1.3 billion sterling in the new Sizewell C nuclear power station in Suffolk. It is expected that the completion of the agreement will take place in the last three months of 2025, subject to regulatory approvals.

It is worth noting that gas imports to Great Britain in 2024 are expected to decrease by 47% compared to previous years, but forecasts indicate that by 2050, the share of liquefied natural gas in supply could reach 60%.

Tags: Europe/Energy